Sergey Ivanov, Chief Executive Officer – Chairman of the Executive Committee of ALROSA, held a working meeting with the President of the Republic of Angola, João Lourenço, during the World Economic Forum in Davos.
At the meeting, Sergey Ivanov and João Lourenço have discussed the issues related to the closing of the transaction to increase the participation of ALROSA in Catoca Ltd. Mining Co. to 41%, and the participation of ALROSA in the development of large Luele diamond deposit through the international enterprise Luaxe.
Sergey Ivanov thanked the Angolan President for the openness and the measures being taken by the country's authorities to create favorable conditions for mining companies.
"Recently, we have seen positive changes related to increasing of transparency and improving the investment climate in Angola. I am sure that the efforts being taken by Republic’s authorities to attract investments to the economy, will soon bear fruit and will contribute to the launch of new large projects", Mr. Ivanov said after the meeting.
The current meeting of Sergey Ivanov and João Lourenço was the second in a row over the past three months – the previous one took place in the Republic of Angola in November 2017.
Today, ALROSA is a co-founder of Catoca Ltd. Mining Co, through which the company also plans to participate in the development of the Luaxe concession (the Luele pipe). In addition, ALROSA and Angola’s national diamond-mining company ENDIAMA E.P. have been carrying out geological exploration in Angola as part of a joint venture since 2014.